Bank celebrates centenary – The Hindu

People’s Urban Cooperative Bank, operating in parts of Kanayannur, Kochi and Kunnathunadu taluks in Ernakulam district is celebrating 100 years of its founding.

A statement said that the celebrations will be inaugurated on June 3 at the Layam Koothambalam, Thripunithura. Minister for Cooperation Kadakampally Surendran will lay the foundation for the centenary building. The programme is scheduled to start at 5 p.m.

The bank said it was among the 60 urban banks that were described by the Reserve Bank of India as “financially sound and well managed”. The cooperative bank has 21 branches and has a total business of ₹880 crore. The cooperative bank is also among the three urban banks that have been granted mobile banking licence by the RBI.

The press release also said that as part of the centenary celebrations, the bank was offering one per cent extra interest on one-year deposits to senior citizens.